No blue light points to the main/logic board as being suspect. The voltage regulators on the main/logic board are all within spec.

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I'm facing the same problem with my Samsung 226BM.
The display stopped working, the power led would not turn on.
I opened the monitor, and surely enough, the 6 big caps were blown (5x 820µf, 1x 330µF).

I replaced them with new panasonic caps but that doesn't seen to have fixed the problem...
I didn't replace the small caps but they are fine (I checked them with an ESR meter).

My 226BW died in december with no blue power LED at all and I just got around to taking it apart today to figure out which caps I needed to replace--turned out that all the caps looked fine. No bulging and no leaking. However, some of the solder joints looked like my first attempts at soldering as a 12-year-old and were definitely no longer making any sort of connection to the board.

I just fixed up the 4-5 bad solder jobs and everything is working fine again.

Sounds like you definitely had bad caps but maybe you also had some bad solder joints somewhere else you weren't looking that need a touch-up like mine?